Bolstered by strong domestic demand, house sales increased by 6.4 percent in May compared to the same month in the previous year, reaching a total of 114,800. Istanbul had the highest share of the increase, with 18.8 percent of total house sales around the country, followed by Ankara with 9.9 percent and İzmir with 5.8 percent.

Forty-five percent of the Seapearl Project, the only premium real estate project near the sea in Istanbul, was recently sold. The first section of the project, which is worth TL 7,200 ($2,570) per square meter, will be submitted to its new owners in July 2017.

The last bridge deck for the İzmit Bay Bridge, which has become the fourth longest suspension bridge with the largest central span in the world, was installed Thursday in a ceremony attended by President Recep Tayyip Erdoğan, Prime Minister Ahmet Davutoğlu, Transportation, Maritime Affairs and Communication Minister Binali Yıldırım and Science, Industry and Technology Minister Fikri Işık.

In his closing speech at the 13th Organization of Islamic Countries (OIC) Summit Conference on Friday, President Recep Tayyip Erdoğan said that Muslims should be able to solve their own problems without resorting to outside assistance. “Why are we expecting others to solve the problems of Muslims? We should be able to solve our own problems. The OIC shall be there for eventual purpose.”

Construction of the Yavuz Sultan Selim Bridge, which began in May 29, 2013, now unites the Asian and European sides of the Bosporus for the third time, as the last 9-meter segment was installed today. The bridge cost nearly $3 billion and is a critical section of the Northern Marmara Motorway.

Arban Çitak, the head of French rail transport vehicle producer Alstom’s Turkish unit, said that the company will bid in a tender that Turkey is scheduled to hold in the middle of this year with the purpose of purchasing 80 high-speed trains. The company plans to invest 100 million euros in a facility where it will produce the high-speed vehicles if it wins the tender.

A questionnaire conducted on 720 of investors in the Middle East and the participants in the city skip world real estate in Dubai, that 83% of investors polled their views are considering investing in Turkey.

Turkish Airlines announced on Friday a net profit of 2.4 billion Turkish liras ($819 million) for the first three quarters of 2015 and more than doubled from a net profit of TL 1.545 billion ($527 million) for the same period of 2014.

Turkey’s state-run participation bank, Ziraat Katılım has already outpaced 13 banks in the sector within the first five months of its establishment, and aims to become a medium-size bank by the end of 2018.

Atatürk Airport, which broke a record with 1,399 departures/landings a day before yesterday broke another record with 1,403 departures/landings yesterday. Passing the former record with 4 planes in 24 hours, 150,148 passengers passed by Atatürk Airport terminals.

Istanbul was picked as the city with most development in the world in last 5 years. According to research “The Business of Cities 2015″ by Jones Lang LaSalle, who provides financial and professional services on real estate, Istanbul, because of its performance since 2010, took first place as the city with most development.

Turkish Airlines’ first quarter 2015 consolidated financial statements were reported to Borsa Istanbul. Compared to the first quarter of 2014, Turkish Airlines sales revenue increased by 6,4 percent, reaching a total of 5 billion 456 million TRY. Turkish Airlines disclosed an adjusted operating loss of 48 million TRY, outperforming the first quarter of 2014 by 75 percent and recorded 373 million TRY net profit during the lowest season of the aviation industry. Active risk management strategies and a balanced debt composition had an impact on these outstanding results.

The Facade Rehabilitation Urban Designs Application Project has been initiated and approved by the Istanbul Metropolitan Municipality City Council to create a modern view along Istanbul’s main arterial roads. The project will contribute to the city’s urban aesthetic and put an end to the visual pollution created by many buildings’ facades.

Tripadvisor, the world’s top travel website, has announced Istanbul as the third-best global destination after the cities of Marrakech, Morocco and Siem Reap, Cambodia. On Tuesday last week, Tripadvisor announced its Travelers’ Choice 2015 awards for destinations on its website. The “Red City” of Marrakech, Morocco’s most popular holiday destination, topped the rankings with its palaces, courtyards, mosques and serene beauty.

Turkey’s gross domestic product (GDP) expanded by 2.6 percent in the final quarter of 2014, resulting in 2.9 percent full-year growth, the Turkish Statistical Institute (TurkStat) said in a statement released yesterday. Turkish economy succeeded in growing continuously for 21 quarters, and the announced growth rate for 2014 was above market expectations, which was around 2.7 percent average.

At 20.09 percent, 2014 experienced the highest increase in real estate prices in Istanbul, according to the January 2015 Turkey composite real estate sale price index of Reidin.com and GYODER. A study for new houses and sublets took place in Adana, Ankara, Antalya, Bursa, Istanbul, İzmir and Kocaeli, the findings of which indicated the real estate price index increased by 0.85 percent when compared to last month and by 16.27 percent when compared to the same term in the previous year.

The Istanbul Chamber of Commerce (İTO) has announced the profiles of foreign capitalized companies that were established in 2014 in Istanbul. Accordingly, new companies with TL 1.22 billion of capital were established in Istanbul by 4,487 foreign partners. Syrian investors had the biggest share: 25.21 percent of foreign investors. In Istanbul, 1,131 Syrians established new firms with TL 85 million in capital. In other words, one out of every four foreign investors was Syrian last year.

According to Global Metro Monitor 2014 report which is prepared by American research establishments, Brookings Institute and JP Morgan Chase, Istanbul is selected as the third fastest growing city in the world.

Turkey’s property market wasn’t hit as hard as others around the world in 2008 and 2009. Values in some districts of Istanbul dropped by maybe 25% at the height of the downturn (about the same as in Panama.) But in just a year-and-a-half, prices recovered. That rate of appreciation (10% to 15% a year on average) continued through 2014 and is expected to carry on indefinitely.

The new 6.5 km undersea tunnel will reduce travel time between the two sides of Istanbul via metro and highway lines to 14 minutes.Turkish Prime Minister Ahmet Davutoglu has announced an estimated $3.5 billion mega project for a three-story sub-seatunnel under Istanbul’s Bosphorus Strait which will connect the city’s two sides with one railway and two land routes, cutting travel times to 14 minutes.

Economy Minister Nihat Zeybekci said yesterday that the Kars–Tbilisi–Baku railway line will begin operating this year during his visit to Azerbaijan. Visiting the Azerbaijani capital of Baku for a series of official talks, Economy Minister Nihat Zeybekci met his Azeri counterpart, Shahin Mustafayev at Baku Biznes Center.

“We estimate that the general state budgetary deficit will be 0.8 percent, which is 0.3 point less than targeted,” Finance Minister Mehmet Şimşek said, adding, “With this proportion, Turkey’s budget performed better than 25 out of 28 EU countries.”

Speaking at the 60th anniversary of the establishment of the Turkish Petroleum Corporation (TPAO), President Recep Tayyip Erdoğan said, “We will start looking for oil in the western area of the Black Sea by next January.”

According to the 2012 year data, which is issued based on the income received from the activities of the contractors in foreign countries, in international construction sectoral magazine ENR (Engineering News Record), in “World’s Biggest 250 International Contractors” list, there are 42 Turkish contractor companies in 2014, according to the data from 2013, which was 38 in 2013.

Moscow has held onto its title as the billionaire capital of the world. This is the fourth time in the past five years that Russia’s capital stays ahead of New York on top of our list of billionaire haunts – those cities that are the primary homes to the most billionaires. Eighty-four of the world’s richest, worth a total of over $366 billion, call Russia’s most populous city home.

Deloitte, one of the “Big Four” professional services firms, announced that it is increasing the estimate growth rate for Turkey in 2014 to 3.5 percent from the previously announced 2-2.5 percent band.Deloitte Turkey published the report “Economic Outlook: Under the shadows of Central Banks” which contained numerous forecasts and predictions for the world economy and other evaluations related to economic growth, the current account deficit and inflation rate in Turkey.

Local investors who highly preferred foreign currencies due to the perception of political instability that arose due to the Gezi Park protests in May 2013, the Dec. 17 coup attempt that was orchestrated by followers of the shadowy imam Fethullah Gülen to destabilize Turkey’s economic and political atmosphere, and the March 30 local elections, are now increasingly inclining toward the Turkish lira.

Turkey’s chief economist said on Tuesday that the country’s per capita income now exceeds $19,000 (TL 40,350) based on purchasing power parity, meaning the country has reached 60 percent of the EU and Japanese average levels of prosperity. Deputy Prime Minister Ali Babacan’s comments made during a speech at an iftar dinner (Ramadan fast-breaking meal) organized by Turkey’s Independent Industrialists and Businessmen’s Association in Ankara.

According to data declared by General Directorate of State Airports Authority (DHMI): A record broken with 16.7 million passengers served at airports in Turkey in June. Compared to last Junes total air traffic: Domestic air traffic increased by 7.8% with 65,308, international air traffic increased by 8.7% with 61,093 which equals to increase in total air traffic by 8.2% with 126,401.

International visitors increased by 9%, reaching 5,382,866 in first 6 months of 2014. This means that foreign tourists who visited Istanbul almost doubled in past 4 years compared to 3,093,488 visitors in 2010.

Turkey’s western province of Istanbul, the largest city in the country, is boosting national exports by providing nearly half of the country’s foreign trade, according to the Turkish Exporters’ Assembly.

Turkey Prime Minister Recep Tayyip Erdoğan attended the opening of the Aviation Repair and Maintenance Center of Türk Hava Yolları Teknik A.Ş. at Sabiha Gökçen Airport in Istanbul. Stating how pleased he was since the $550 million investment was covered by the equity capitals of Turkish Airlines, he suggested at a new initiation that will be started at Sabiha Gökçen.

Turkey will break a new record if it reaches an annual tourism revenue figure of $30 billion in 2013, as the number of tourists climbed from 13 million to 36 million in 11 years, Turkish Prime Minister Tayyip Erdogan said yesterday.

The Turkish economy grew at a faster-than-expected rate in the second quarter, gross domestic product (GDP) expanding 4.4% compared to the same period last year, up from 2.9 percent the previous quarter.

Turkish Exports Strategy for 2023” was initiated by the Ministry of Economy and Turkish Exporters Assembly in 2009. The main purpose of this strategy is to reach 500 billion dollars of exports volume in 2023, the centenary anniversary of the Turkish Republic, with an average of 12% increase in exports annually.

In first 8 months of 2012, number of tourists who visited Istanbul increased by 18%, reaching to 6,147,818. August’s single increase reached to 28.9%, despite losing Syrian and Israeli markets, high increase proves Istanbul’s popularity in recent years. 30.1% of the total of tourists visited Istanbul.

In recent years, tourists from middle eastern and north African countries have been flocking to Turkey. The number of Arab tourists increased from 687,000 ten years ago to over 4,000,000 (2011), even more in 2012. Arabs come to Turkey all year long( spring, summer, fall, winter) not only for summer-sea purposes.

Financial markets (bond and stock markets) and financial intermediaries (banks, insurance companies, pension funds) have the basic function of getting people together by moving funds from those who have surplus funds to those who have a shortage of funds.

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